AssuredPartners shops $1.27 billion term loan at Libor plus 350 bps

By Sara Rosenberg

New York, Sept. 14 – AssuredPartners Inc. is talking its $1,271,000,000 term loan (B2) due October 2024 at Libor plus 350 basis points with a 0% Libor floor and an original issue discount of 99.25 to 99.5, according to a market source.

Bank of America Merrill Lynch is the left lead bank on the deal that launched with a call on Wednesday afternoon.

Of the total amount, $150 million of the term loan is an add-on that will be used to repay revolving credit facility borrowings and for acquisition financing, and the remaining amount is an amendment and extension from October 2022 of the company’s existing term loan.

AssuredPartners is a Lake Mary, Fla.-based provider of property and casualty and employee benefits insurance brokerage services.

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